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Adam, Brain and Chris were equal partners of a firm with goodwill Rs. 1,20,000 shown in the balance sheet and they agreed to take Daniel as an equal partner on the term that he should bring Rs. 1,60,000 as his capital and goodwill, his share of goodwill was evaluated at Rs. 60,000 and the goodwill account is to be written off before admission. What will be the treatment for goodwill?a)Write off the goodwill of Rs. 1,20,000 in old ratiob)Cash bought in by Daniel for goodwill will be distributed among old partners in sacrificing ratioc)Bothd)NoneCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Adam, Brain and Chris were equal partners of a firm with goodwill Rs. 1,20,000 shown in the balance sheet and they agreed to take Daniel as an equal partner on the term that he should bring Rs. 1,60,000 as his capital and goodwill, his share of goodwill was evaluated at Rs. 60,000 and the goodwill account is to be written off before admission. What will be the treatment for goodwill?a)Write off the goodwill of Rs. 1,20,000 in old ratiob)Cash bought in by Daniel for goodwill will be distributed among old partners in sacrificing ratioc)Bothd)NoneCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Adam, Brain and Chris were equal partners of a firm with goodwill Rs. 1,20,000 shown in the balance sheet and they agreed to take Daniel as an equal partner on the term that he should bring Rs. 1,60,000 as his capital and goodwill, his share of goodwill was evaluated at Rs. 60,000 and the goodwill account is to be written off before admission. What will be the treatment for goodwill?a)Write off the goodwill of Rs. 1,20,000 in old ratiob)Cash bought in by Daniel for goodwill will be distributed among old partners in sacrificing ratioc)Bothd)NoneCorrect answer is option 'C'. Can you explain this answer?.

Solutions for Adam, Brain and Chris were equal partners of a firm with goodwill Rs. 1,20,000 shown in the balance sheet and they agreed to take Daniel as an equal partner on the term that he should bring Rs. 1,60,000 as his capital and goodwill, his share of goodwill was evaluated at Rs. 60,000 and the goodwill account is to be written off before admission. What will be the treatment for goodwill?a)Write off the goodwill of Rs. 1,20,000 in old ratiob)Cash bought in by Daniel for goodwill will be distributed among old partners in sacrificing ratioc)Bothd)NoneCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.

Here you can find the meaning of Adam, Brain and Chris were equal partners of a firm with goodwill Rs. 1,20,000 shown in the balance sheet and they agreed to take Daniel as an equal partner on the term that he should bring Rs. 1,60,000 as his capital and goodwill, his share of goodwill was evaluated at Rs. 60,000 and the goodwill account is to be written off before admission. What will be the treatment for goodwill?a)Write off the goodwill of Rs. 1,20,000 in old ratiob)Cash bought in by Daniel for goodwill will be distributed among old partners in sacrificing ratioc)Bothd)NoneCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Adam, Brain and Chris were equal partners of a firm with goodwill Rs. 1,20,000 shown in the balance sheet and they agreed to take Daniel as an equal partner on the term that he should bring Rs. 1,60,000 as his capital and goodwill, his share of goodwill was evaluated at Rs. 60,000 and the goodwill account is to be written off before admission. What will be the treatment for goodwill?a)Write off the goodwill of Rs. 1,20,000 in old ratiob)Cash bought in by Daniel for goodwill will be distributed among old partners in sacrificing ratioc)Bothd)NoneCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Adam, Brain and Chris were equal partners of a firm with goodwill Rs. 1,20,000 shown in the balance sheet and they agreed to take Daniel as an equal partner on the term that he should bring Rs. 1,60,000 as his capital and goodwill, his share of goodwill was evaluated at Rs. 60,000 and the goodwill account is to be written off before admission. What will be the treatment for goodwill?a)Write off the goodwill of Rs. 1,20,000 in old ratiob)Cash bought in by Daniel for goodwill will be distributed among old partners in sacrificing ratioc)Bothd)NoneCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Adam, Brain and Chris were equal partners of a firm with goodwill Rs. 1,20,000 shown in the balance sheet and they agreed to take Daniel as an equal partner on the term that he should bring Rs. 1,60,000 as his capital and goodwill, his share of goodwill was evaluated at Rs. 60,000 and the goodwill account is to be written off before admission. What will be the treatment for goodwill?a)Write off the goodwill of Rs. 1,20,000 in old ratiob)Cash bought in by Daniel for goodwill will be distributed among old partners in sacrificing ratioc)Bothd)NoneCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Adam, Brain and Chris were equal partners of a firm with goodwill Rs. 1,20,000 shown in the balance sheet and they agreed to take Daniel as an equal partner on the term that he should bring Rs. 1,60,000 as his capital and goodwill, his share of goodwill was evaluated at Rs. 60,000 and the goodwill account is to be written off before admission. What will be the treatment for goodwill?a)Write off the goodwill of Rs. 1,20,000 in old ratiob)Cash bought in by Daniel for goodwill will be distributed among old partners in sacrificing ratioc)Bothd)NoneCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice CA Foundation tests.